20 Years of Research on Real Estate Bubbles, Risk and Exuberance: A Bibliometric Analysis

Shengguo Li, Jiaqi Liu, Jichang Dong and Xuerong Li
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Shengguo Li: School of Economics and Management, University of Chinese Academy of Sciences, Beijing 100190, China
Jiaqi Liu: School of Economics and Management, University of Chinese Academy of Sciences, Beijing 100190, China
Jichang Dong: School of Economics and Management, University of Chinese Academy of Sciences, Beijing 100190, China
Xuerong Li: Academy of Mathematics and Systems Science, Chinese Academy of Sciences, Beijing 100190, China

Sustainability, 2021, vol. 13, issue 17, 1-24

Abstract: Since the 2008 global financial crisis, the study of real estate risks, bubbles and exuberance has attracted a lot of attention, which is of great significance to the government, enterprises and individuals. This paper carries out a statistical and bibliometric analysis of 739 studies over the past 20 years in this field, and identifies the theoretical basis, research topics and latest research hotspots in this field. Through the construction of a co-citation network and co-word network, we find that the current studies have commonly employed basic economic theories or econometric methods to detect and quantify real estate bubbles. Explosive bubbles and financialization of real estate are frontier hotspots that have gained much popularity. Based on the comparative study, we further discover that American scholars have paid more attention to topics related to the financial crisis, while Chinese scholars have studied topics more related to real estate market policies. Finally, this paper proposes several important research directions in this field for the future.

Keywords: real estate; risk; bubble; exuberant; bibliometric (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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